27 November 2009
A Government employee availed Housing loan from his department and repaid principal in 15 years. He did not claim Interest on Housing loan while paying principal. Now he has started paying interest and will pay for 5 years as per govt. rule. Can he claim interest on housing loan, towards loss from house property now. if so, under what rule of Income tax.
28 November 2009
Yes when you Pay Principle you was Claiming Priciple amount of Housing Loan in Sec.80C and now you are Paying H.L interest now its time to take benefit of Loss in H.P of your Loan interest. but now interest is not going to include in 80C so if your limits not comes over you have a chance to invest in 80C upto 100000/-